May 15 (Reuters) - Biox Corp BX.TO :
* Biox extends bridge note and announces that it has received a non-binding offer regarding an acquisition by its principal shareholder group
* Proposal where CFFI Group would acquire all common shares of company not owned by CFFI Group for consideration of C$1.23 per share
* Board of directors has determined to proceed with negotiating definitive transaction agreements for proposed transaction
* Board formed a special committee of independent directors at outset of discussions with CFFI Group to review acquisition proposals Source text for Eikon: ID:nCNWjF6CPa Further company coverage: BX.TO